You will read these statements like: “Receive support and advice” “Transform your business” “RIGHT BY YOU” on the United Overseas Bank’s Singapore division website . Sounds very encouraging doesn’t it? But, does the UOB Bank really take pride in caring for the local people and business community or does their marketing and business assessment strategy leave some high and dry instead of swimming in the happy service they so confidently portray on their website? The shocking truth about their assessment system with the new accounts may be a real cause…

Singapore’s central bank has fined Credit Suisse and United Overseas Bank (UOB) for breaches relating to the scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB), it said in a statement on Tuesday The Monetary Authority of Singapore (MAS) said it has imposed a 700,000 Singapore dollars ($505,000) fine on Credit Suisse and a 900,000 Singapore dollars ($649,000) penalty on UOB. The two banks were found to have breached several anti-money laundering requirements. The Monetary Authority of Singapore’s headquarters in Singapore “These include weaknesses in conducting due diligence on customers…